The Department of Public Works and Highways (DPWH) has tapped the appraisal services of the Land Bank of the Philippines (LANDBANK) to help speed up the completion of road projects that will support the “Build, Build, Build” (BBB) Program of the national government.
DPWH Secretary Mark A. Villar and LANDBANK President and CEO Cecilia C. Borromeo signed a Memorandum of Agreement (MOA) in October last year at the LANDBANK Plaza in Malate, Manila.
Under the MOA, the Bank will appraise lands and properties affected by DPWH projects to determine its market value, which is one of the requirements for the Department to acquire its Right-of-Way (ROW) as provided under Republic Act 10752 or “The Right of Way Act.”
The partnership agreement will cover 1,527 DPWH projects nationwide, including farm-to-market roads, bypass roads, and road widening, amounting to an estimated appraisal service fee of P495.78 million.
According to DPWH, it has tapped the services of LANDBANK because of the adequate ability, expertise, and experience in property valuation and appraisal of the Bank’s licensed appraisers nationwide.
When he assumed office, President Rodrigo R. Duterte initiated the BBB Program as its flagship economic project, which seeks to accelerate infrastructure spending and develop industries that will yield robust growth, create jobs and improve the lives of Filipinos.
With an estimated budget of P8.4 trillion spread over six years, the Program is meant to usher in a “golden age of infrastructure,” bringing in more than 9,000 kilometers of roads; 2,000 bridges; 4,000 flood control projects, as well as new railways and airports.